Gildan Activewear Inc. reported strong financial performance with record revenues, significant shareholder returns, and successful product innovations driving growth. However, challenges such as the phase-out of Under Armour impacting hosiery and underwear sales, increased tax rates, and macroeconomic uncertainties present potential headwinds. Despite these challenges, the company's positive outlook for 2025 suggests optimism in its growth strategy.

Company Guidance

During Gildan Activewear Inc.'s 2024 Q4 earnings call, the company provided guidance for 2025, highlighting several key metrics. Gildan anticipates mid-single-digit revenue growth for the full year, with adjusted diluted EPS expected to range from $3.38 to $3.58, representing a 13% to 19% increase year over year. The company also forecasts an approximately 50 basis point increase in full-year adjusted operating margin. Capital expenditures are projected to be around 5% of sales, and free cash flow is expected to exceed $450 million. Gildan expects Q1 2025 net sales to grow in the low single digits, or mid-single digits when excluding the impact of the Under Armour phase-out. The company plans to continue repurchasing shares, maintaining a leverage ratio target of 1.5 to 2.5 times net debt to adjusted EBITDA. The guidance is underpinned by anticipated growth in key product categories, market share gains, and continued benefits from recent innovations and market dynamics.

Record Fourth-Quarter Sales

Gildan Activewear Inc. delivered record fourth-quarter sales of $822 million, up 5% compared to the previous year. Excluding the phase-out of Under Armour, the growth rate was in the low double digits.

Record Full-Year Financial Performance

The company achieved record revenues of about $3.3 billion, a strong adjusted operating margin of 21.3%, and adjusted diluted EPS growth of 17% year over year. A record $889 million was returned to shareholders in 2024.

International Sales Recovery

International business saw a 20% increase in sales over the last two quarters, driven by market recovery and capacity expansion in Bangladesh.

Innovation and Product Expansion

Strong reception of new innovations such as soft cotton technology, plasma print technology, and ColorBlast, with significant growth in the Comfort Colors brand, up 40% for the full year.

Guidance for 2025

The company expects mid-single-digit revenue growth for 2025, adjusted diluted EPS to increase by 13% to 19%, and free cash flow above $450 million.

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Gildan Activewear (TSE:GIL) Earnings, Revenues Date & History

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TSE:GIL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	0.81 / -	0.59	―	―	―
Feb 19, 2025	2024 (Q4)	1.15 / 1.18	1.064	10.67% (+0.11)	―
Oct 31, 2024	2024 (Q3)	1.20 / 1.21	1.05	14.86% (+0.16)	―
Aug 01, 2024	2024 (Q2)	1.02 / 1.05	0.894	17.46% (+0.16)	―
May 01, 2024	2024 (Q1)	0.73 / 0.84	0.638	31.11% (+0.20)	―
Feb 21, 2024	2023 (Q4)	1.03 / 1.06	0.922	15.38% (+0.14)	―
Nov 02, 2023	2023 (Q3)	1.01 / 1.05	1.192	-11.90% (-0.14)	―
Aug 03, 2023	2023 (Q2)	0.87 / 0.89	1.22	-26.74% (-0.33)	―
May 03, 2023	2023 (Q1)	0.73 / 0.64	1.078	-40.79% (-0.44)	―
Feb 22, 2023	2022 (Q4)	0.96 / 0.92	1.078	-14.47% (-0.16)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:GIL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 19, 2025	C$73.70	C$76.71	+4.08%
Oct 31, 2024	C$66.99	C$67.86	+1.29%
Aug 01, 2024	C$55.72	C$56.75	+1.85%
May 01, 2024	C$46.90	C$45.22	-3.59%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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